A Case for a New International Monetary System

How often do we hear references to the notion that we live in a rules-based global trading system? Addressing the World Economic Forum at Davos in January 2017, British Prime Minister Theresa May praised liberalism, free trade, and globalization as the forces that underpin the rules-based international system that is key to our global prosperity and security (Martin 2017). Chinese President Xi Jinping likewise ...